Renting 101’s

Hey guys, it’s Brad again with another tip in the world of real estate and real estate investing. I just wanted to share with you guys a story that happened a couple days ago and one of the my biggest lessons in my career so far.

As you travel along the path towards your financial goals, real estate is an absolute phenomenal way for people to achieve those goals and you’ll find that along the way you’ll run into setbacks. Everyone does. I have a few rentals in the greater Spokane, WA area as that is where some of my family is from, and one particular property where an older couple is living.

If you don’t know anything about the summers in eastern Washington, well… it’s gets hot. Really hot. I put in a brand new air conditioning system last fall and as most investors will do I chose the company in my area that would do the job for the lowest price. That decision quickly backfired on me when the couple moved the following spring. The very first 80 degree day we had the couple went to turn on the air conditioning and it would not stay on for more than a couple minutes. They of course called me to let me know they were dying because of how hot it was in the house.

For the sake of the post I won’t name the company but I had them at the house the very next day to fix the problem. Boom! Got it fixed and everything’s great… Nope! Two days later the same problem happens again and I’m getting a call during my kid’s soccer game with a very unhappy tenant.

And you know what, I completely understand their frustrations. There is nothing worse than trying to sleep when you are uncomfortably hot. It’s the worst. I cut ties with that company the very next day.

Remember the advice on relationships I gave you in the last post? Well, keep that in mind as you put yourself in my shoes during this whole fiasco. I started doing some digging in my personal network and found a business card in my wallet from a guy I met at a wedding a couple years ago. He was the owner at Cougar Mechanical, an air conditioning and heating company in Spokane. Thankfully, we hit it off at the wedding he knew I was in real estate and gave me his card. So, I called him up and he had a technician come out to look at my unit that same day and got the problem solved right away. They didn’t even charge me for the consultation fee! Take notes business owners, that is how you do it in customer service. I would recommend them to anyone needing air conditioning or heating help in Spokane. Here is the link to their website… cougarmechanical.com.

This a great lesson for anyone just getting started in real estate investing or even first-time home buyers. Sometimes cutting corners in terms of your budget in the long run will cost you more. Thankfully for me I had great service but it could have easily put me out a couple thousand. Have you guys ever had an experience like this? I want to hear about it! Email me at help@lakescommssion.com. Later!